QRG Capital Management Inc. Sells 14,242 Shares of Emerson Electric Co. (NYSE:EMR)

QRG Capital Management Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 157,543 shares of the industrial products company’s stock after selling 14,242 shares during the quarter. QRG Capital Management Inc.’s holdings in Emerson Electric were worth $17,230,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Newport Trust Company LLC bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $574,908,000. Pathway Financial Advisers LLC raised its position in Emerson Electric by 10,993.2% during the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock valued at $226,443,000 after purchasing an additional 2,051,764 shares during the period. Van ECK Associates Corp lifted its stake in shares of Emerson Electric by 107.2% in the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after purchasing an additional 2,016,075 shares during the last quarter. Swedbank AB increased its position in shares of Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in Emerson Electric by 57,336.1% during the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after buying an additional 1,204,058 shares during the period. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.2 %

Shares of NYSE EMR opened at $109.81 on Tuesday. The stock has a market capitalization of $62.89 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The stock’s fifty day simple moving average is $106.76 and its two-hundred day simple moving average is $108.86.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, August 16th. Emerson Electric’s payout ratio is presently 70.47%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. Morgan Stanley assumed coverage on shares of Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Robert W. Baird upped their target price on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday. Oppenheimer boosted their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Barclays lowered their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Emerson Electric has an average rating of “Moderate Buy” and a consensus price target of $125.53.

Emerson Electric Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.